Economic debate is fixated on familiar terms: growth rates, inflation prints, and the trajectory of interest rates. Policymakers and investors parse these indicators with precision, treating them as signals of stability or distress. But this tunnel vision misses the essential question: What underlying needs is the economy serving—and in what sequence? A better approach is…
Read more
Zambia is shifting focus: not on what it produces, but when. By moving toward a 24-hour economy, the country seeks growth through smarter time use in a capital-limited environment. This idea has a precedent. Cities like New York and London already run 24-hour economies—finance, logistics, entertainment, and services operate nonstop, pushing activity beyond regular hours.…
Read more
Global oil markets are entering renewed volatility. Geopolitical tensions, shipping disruptions, and strategic producer decisions make sustained high prices more likely. The impact of oil prices in Africa goes beyond energy; they serve as a crucial economic lever shaping the fate of nations across the continent. Understanding this larger role sets the foundation for examining…
Read more
“Gold is money. Everything else is credit.” — J. P. Morgan Gold, once seen as a relic of the old monetary order, is quietly reclaiming a role in reserve management. Last week, Nigeria’s Central Bank confirmed the purchase of locally sourced gold for the country’s foreign reserves. The move may seem small, but it reflects…
Read more
The Iran conflict is a multi-market shock that is already reshaping returns, risks, and relative winners across asset classes. The February 2026 U.S.–Israel strikes on Iran represent not just a regional escalation but a global repricing of risk. Conflicts affecting the world’s main energy corridor have global impacts, influencing crude oil, freight, currencies, insurance premiums,…
Read more
Imagine preparing a pot of jollof rice in Lagos in 2016 versus 2026. The recipe has not changed. Rice, tomatoes, peppers, onions, oil, seasoning, and possibly chicken. But the cost of the pot has multiplied. That is Nigeria’s inflation story. Economists measure inflation using indices and models. Nigerians experience it through food. And no food…
Read more
Emerging markets are pivoting. After leading the world into aggressive tightening, they are now leading the turn toward easier money. Policy rates that once defended currencies and crushed inflation are beginning to fall — not because risks have vanished, but because the balance of risk has shifted. The question is no longer whether inflation can…
Read more
In 2016, Nigeria was in recession. In 2026, the International Monetary Fund (IMF) projects that Nigeria will rank among the largest contributors to global real GDP growth. This shift is not cyclical. It is structural. And it says as much about the changing architecture of the global economy as it does about Nigeria itself. Importantly,…
Read more
Prudence is designed to make financial systems safer. Higher capital buffers, stricter underwriting, stronger compliance, and clearer rules all serve one aim: reduce the chance that shocks become crises. Prudence has a shadow cost: when imposed abruptly, uniformly, or without regard to transmission, it can shrink the economy it intends to protect. Nigeria’s financial reset…
Read more
Nigeria’s financial system is changing. It faces a major regulatory reset across banking, capital markets, fintech, FX intermediation, and cash usage. The trend is clear: higher capital, tighter compliance, clearer rules, and more market-based pricing, especially in foreign exchange. Officially, the goal is stability. In reality, it is during the adjustment phase that risk is…
Read more
